Brokerages Set ExlService Holdings, Inc. (NASDAQ:EXLS) Price Target at $43.60

ExlService Holdings, Inc. (NASDAQ:EXLS) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $43.60.

Several brokerages have recently weighed in on EXLS. TD Cowen decreased their price target on ExlService from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Stifel Nicolaus reduced their target price on ExlService from $54.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target (down from $55.00) on shares of ExlService in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Robert W. Baird set a $35.00 price objective on shares of ExlService in a research note on Wednesday, February 25th.

Insider Buying and Selling

In other ExlService news, EVP Ajay Ayyappan sold 1,197 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $29.79, for a total transaction of $35,658.63. Following the completion of the sale, the executive vice president directly owned 53,901 shares in the company, valued at approximately $1,605,710.79. This trade represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 11,586 shares of company stock worth $449,725 over the last quarter. Corporate insiders own 4.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its holdings in ExlService by 193.6% in the second quarter. Invesco Ltd. now owns 4,645,745 shares of the business services provider’s stock worth $203,437,000 after purchasing an additional 3,063,510 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of ExlService by 109.7% during the 4th quarter. AQR Capital Management LLC now owns 4,118,625 shares of the business services provider’s stock worth $174,794,000 after buying an additional 2,154,652 shares in the last quarter. Amundi acquired a new stake in shares of ExlService during the 3rd quarter worth approximately $67,862,000. Jane Street Group LLC grew its position in shares of ExlService by 534.2% during the 2nd quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider’s stock worth $59,318,000 after buying an additional 1,141,008 shares during the period. Finally, Norges Bank bought a new stake in shares of ExlService in the 2nd quarter valued at $44,020,000. 92.92% of the stock is owned by institutional investors and hedge funds.

ExlService Price Performance

Shares of NASDAQ:EXLS opened at $30.94 on Wednesday. The firm has a market cap of $4.84 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.39 and a beta of 0.89. ExlService has a 12-month low of $26.94 and a 12-month high of $48.79. The business has a fifty day simple moving average of $31.83 and a 200 day simple moving average of $38.04. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.32.

ExlService declared that its board has initiated a stock repurchase plan on Tuesday, March 17th that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

About ExlService

ExlService Holdings, Inc (NASDAQ: EXLS) is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.